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Localization of a category is an ambiguous term that can refer to one of the two following notions:
category of fractions. This is traditional terminology, used in the books by Gabriel–Zisman and Borceux.
reflective localization. This meaning is especially prevalent in the literature on quasicategories, following Lurie’s Higher Topos Theory. However, some authors using quasicategories use “localization” to mean the quasicategory of fractions instead.
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